Coinbase Launches a New Tax Calculator and More
Good news, if you used only Coinbase to buy and sell crypto, your tax filing just got a lot easier. Coinbase has launched new tax tools including a tax calculator.
With that said, this is helpful if you only used Coinbase. The more places you moved your crypto around, including GDAX, the less useful these tools will be (as the software could end up counting money moved off exchange as a sale for example).
Also, the tax software is limited in the way it can calculate your profits/losses, so you might want to hand this reporting to your CPA rather than using it to file directly.
Still, for those who only did light trading, and only used Coinbase, their life is now much easier.
I won’t try to explain everything about Coinbase’s software here, as they have explained it well enough on their blog.
Thus, see New tax tools on Coinbase on Coinbase’s blog.